XML 50 R32.htm IDEA: XBRL DOCUMENT v3.22.0.1
Segment Information (Tables)
 12 Months Ended
Dec. 31, 2021
Segment Reporting [Abstract]  
Company's revenues and income by segment [Table Text Block]
(for the year ended December 31, in millions)Business
Insurance		Bond &
Specialty
Insurance		Personal
Insurance		Total
Reportable
Segments
2021
Premiums$15,734 $3,138 $11,983 $30,855 
Net investment income2,265 247 521 3,033 
Fee income375 — 27 402 
Other revenues235 23 97 355 
Total segment revenues (1)
$18,609 $3,408 $12,628 $34,645 
Amortization and depreciation$3,180 $643 $2,084 $5,907 
Income tax expense499 165 179 843 
Segment income (1)
2,385 668 760 3,813 
2020
Premiums$15,294 $2,823 $10,927 $29,044 
Net investment income1,633 213 381 2,227 
Fee income405 — 24 429 
Other revenues176 27 76 279 
Total segment revenues (1)
$17,508 $3,063 $11,408 $31,979 
Amortization and depreciation$3,069 $579 $1,908 $5,556 
Income tax expense213 107 308 628 
Segment income (1)
1,309 473 1,195 2,977 
2019
Premiums$15,300 $2,565 $10,407 $28,272 
Net investment income1,816 233 419 2,468 
Fee income437 — 22 459 
Other revenues155 26 87 268 
Total segment revenues (1)
$17,708 $2,824 $10,935 $31,467 
Amortization and depreciation$3,037 $533 $1,787 $5,357 
Income tax expense 223 151 195 569 
Segment income (1)
1,392 618 824 2,834 
_________________________________________
(1)Segment revenues for reportable business segments exclude net realized investment gains (losses) and revenues included in "interest expense and other." Segment income for reportable business segments equals net income excluding the after-tax impact of net realized investment gains (losses) and income (loss) from "interest expense and other."
Net written premiums by market [Table Text Block] Net written premiums by market were as follows:
(for the year ended December 31, in millions)202120202019
Business Insurance:
Domestic:
Select Accounts$2,833 $2,821 $2,911 
Middle Market8,933 8,511 8,630 
National Accounts987 996 1,051 
National Property and Other2,265 2,086 1,965 
Total Domestic15,018 14,414 14,557 
International1,074 1,017 1,072 
Total Business Insurance16,092 15,431 15,629 
Bond & Specialty Insurance:
Domestic:
Management Liability1,983 1,769 1,605 
Surety888 845 866 
Total Domestic2,871 2,614 2,471 
International505 337 268 
Total Bond & Specialty Insurance3,376 2,951 2,739 
Personal Insurance:
Domestic:
Automobile5,827 5,369 5,412 
Homeowners and Other5,980 5,329 4,664 
Total Domestic11,807 10,698 10,076 
International684 652 707 
Total Personal Insurance12,491 11,350 10,783 
Total consolidated net written premiums$31,959 $29,732 $29,151 
Business segment reconciliations of revenue and income, net of tax [Table Text Block]
(for the year ended December 31, in millions)202120202019
Revenue reconciliation
Earned premiums
Business Insurance:
Domestic:
Workers’ compensation$3,227 $3,378 $3,829 
Commercial automobile2,855 2,761 2,632 
Commercial property2,275 2,087 1,937 
General liability2,576 2,401 2,342 
Commercial multi-peril3,667 3,552 3,453 
Other65 54 40 
Total Domestic14,665 14,233 14,233 
International1,069 1,061 1,067 
Total Business Insurance15,734 15,294 15,300 
Bond & Specialty Insurance:
Domestic:
Fidelity and surety1,091 1,075 1,036 
General liability1,415 1,219 1,082 
Other220 237 216 
Total Domestic2,726 2,531 2,334 
International412 292 231 
Total Bond & Specialty Insurance3,138 2,823 2,565 
Personal Insurance:
Domestic
Automobile5,687 5,280 5,311 
Homeowners and Other5,608 4,988 4,393 
Total Domestic11,295 10,268 9,704 
International688 659 703 
Total Personal Insurance11,983 10,927 10,407 
Total earned premiums30,855 29,044 28,272 
Net investment income3,033 2,227 2,468 
Fee income402 429 459 
Other revenues355 279 268 
Total segment revenues34,645 31,979 31,467 
Other revenues— — 1 
Net realized investment gains171 2 113 
Total revenues$34,816 $31,981 $31,581 
Income reconciliation, net of tax
Total segment income$3,813 $2,977 $2,834 
Interest Expense and Other (1)
(291)(291)(297)
Core income3,522 2,686 2,537 
Net realized investment gains132 11 85 
Impact of changes in tax laws and/or tax rates (2)
8 — — 
Net income$3,662 $2,697 $2,622 
______________________________________
(1)    The primary component of Interest Expense and Other was after-tax interest expense of $269 million, $268 million and $272 million in 2021, 2020 and 2019, respectively.
(2)    Impact is recognized in the accounting period in which the change is enacted.
Asset reconciliation [Table Text Block]
(at December 31, in millions)20212020
Asset reconciliation:
Business Insurance$90,353 $88,422 
Bond & Specialty Insurance10,146 9,420 
Personal Insurance18,983 18,328 
Total assets for reportable segments119,482 116,170 
Other assets (1)
984 594 
Total consolidated assets$120,466 $116,764 
___________________________________________
(1)    The primary components of other assets at both December 31, 2021 and 2020, were accrued over-funded benefit plan assets related to the Company's qualified domestic pension plan and other intangible assets.
Revenues of the Company's operations based on location [Table Text Block]
The following table presents revenues of the Company’s operations based on location:
(for the year ended December 31, in millions)202120202019
U.S.$32,596 $30,123 $29,638 
Non-U.S.:
Canada1,351 1,278 1,371 
Other Non-U.S.869 580 572 
Total Non-U.S.2,220 1,858 1,943 
Total revenues$34,816 $31,981 $31,581